Hemenway Trust Co LLC Has $42.92 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Hemenway Trust Co LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,464 shares of the semiconductor company’s stock after selling 3,919 shares during the period. Analog Devices accounts for about 3.4% of Hemenway Trust Co LLC’s holdings, making the stock its 9th biggest position. Hemenway Trust Co LLC’s holdings in Analog Devices were worth $42,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments bought a new position in shares of Analog Devices in the third quarter valued at approximately $867,000. Tidal Investments LLC grew its position in shares of Analog Devices by 24.9% during the 1st quarter. Tidal Investments LLC now owns 31,715 shares of the semiconductor company’s stock valued at $6,268,000 after acquiring an additional 6,314 shares during the period. BDF Gestion purchased a new stake in shares of Analog Devices during the 2nd quarter worth approximately $4,491,000. Envestnet Portfolio Solutions Inc. increased its position in Analog Devices by 3.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,092 shares of the semiconductor company’s stock worth $16,912,000 after buying an additional 2,280 shares during the last quarter. Finally, Interval Partners LP bought a new stake in shares of Analog Devices in the first quarter valued at $1,978,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Activity

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward H. Frank sold 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $0.71 during trading hours on Tuesday, reaching $219.76. 18,297 shares of the stock traded hands, compared to its average volume of 3,197,162. The company’s 50-day simple moving average is $226.32 and its two-hundred day simple moving average is $224.99. The company has a market capitalization of $109.11 billion, a P/E ratio of 66.21, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. Analog Devices, Inc. has a 52-week low of $170.10 and a 52-week high of $244.14. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Equities research analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio is currently 110.51%.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.